Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-03-19
AND STILL ANOTHER
STORY ABOUT THE GREAT BALTIMORE
AND OHIO DEAL.
Details Who has the Corporation Nowi-
What kr. Sally says-Ter-
minal Harmony.
LBy telcgraph 70 boo pispatch.l

NEW 10Rk, Marcn 1o.-1he Hollow
ing details Of the sale OF the Baltimore
and Ohio railroad to the Stayner-Ives
syndicate, forming the latest story
aAoat concerning this corporation, are
given out this evening: The first de-
post Of $500, 00Ohas already been paid,
and the transfer of the road to the pur-
Chasers will soon be made. The buyers
are known only by their connection
with the purchase of the Cincinnati,
Hamilton and Dayton railroad year
ago. The hacker of these parties
is generally understood to be
Christopher Meyer, the millionaire
rubber manufacturer, OF this city.
ctayner is also New Yorker. He was
at one time treasurer Of the American
Bank-Note Company. There are no
other parties back of the purchase of
any importance. The parties holding
the option on the road at first asked an
extension, but when Garrett explained
that such large block could not re-
main tied up'they withdrew their re-
quest.
A prominent member OF the Rich
mond Terminal makes the following
statement: "The rumors of dissen-
sion in the Board of Directors are ALSO
lutely-unfounded, and the utmost con-
6dcnce in President Alfred Sully pre-
walls among MEMBERS and the Execu-
tive Committee recently appointed was
intended to, and does, harmonic all
the elements represented in the Board.
In taking from Garrett an option to
purchase the control of the Baltimore
and Ohio railroad in behalf of the Rich
mond and West Point Terminal
road Sully acted for the best
interest OF that company and with the
knowledge of all the members of the
Board, and the only hesitation on the
part of the Terminal people to conclude
the bargain with Garrett was that not
sufficient time had been given to make
thorough examination of the proper
ty to be acquired" He made a fur
ther statement that it was through
Sully that the company was freed from
all entanglements that it was enabled
to acquire the Richmond and Danville
stock, of which more than AZ, 900
shares out of its issue of $1,000
shares are now owned by the Termi-
nal and that it was owing to his efforts
that the control of the East Tennessee
has been acquired. So far from any
evidence of disaflection or discomfort
being manifested by the stockholders,
the warrnest expressions of confidence
in the president are constantly received.
For the first time since the Balti-
more and Ohio deal has been pending
Alfred Sully to-day broke his silence
so far as to say 81 see that other par
ties claim to have purchased the control
Of the Baltimore and Ohio. i think
they have made deposit on account.
When the Terminal company decided
not to exercise their option told
Baltimore and Ohio people that while
we unanimously desired to combine our
terminal properties with the Baltimore
and Ohio property, yet we could not
ask them to consider themselves in any
way bound to leave the matter open.
Therefore if any disposition has been
made, it is perfectly proper and right. "
1t is stated that the purchasers of the
baltimore and Ohio road are busily en-
gagged in attempts to raise the balance
of the first 81 900, 600, which is to be
paid on Monday. 1t is also alleged
that they are mortgaging property
beforehand in order to raise the money,
and that as soon as they can get con-
troll the disintegration of the road will
begin. A sterling loan of S2,500,00O
on the Cincinnati, Hamilton and Day
ton stock is reported to have been
made to the syndicate, the money to
be used in payment of Baltimore and
Ohio stock. All other railroad and
telegraph officials deny that they have
any interest in the deal, and so far as
can be learned the purchase is for
speculative purposes only.
At the Windsor Hotel and other up
town resorts of Wall-street men the bur
den of all the street-talk was the pur-
chase of the Baltimore and Ohio proper
ty. The general impression among out
siders was that the Ives-Stayner-M Meyer
syndicate had become the purchasing
party, but none was found who would
say he personally knew Of the trans
action. Judge Cowan, CARROTS law
yer, to whom it is believed the deposit
was paid, declined to talk of the matter.
SOMETHING FROM CHATTANOOGA.
CHATTANOOGA, Tenn, March Is. -
The Times says it has positive informa-
ton that the Baltimore and Ohio Ex-
press Company has acquired the ex-
press franchise on the East Tennessee,
Virginia and Georgia railroad and all
its connections from the Southern Ex-
press Company. 1t will take charge of
the entire system within thirty days.
The Times says that this strongly sig
nifies that the Baltimore and Ohio has
been absorbed by the West Point Ter
minal, as the latter recently acquired
the East Tennessee, Virginia and
Georgia railroad.